Zurcher Kantonalbank Zurich Cantonalbank Purchases 49,725 Shares of PACCAR Inc. $PCAR

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PACCAR Inc. (NASDAQ:PCAR) by 22.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,158 shares of the company’s stock after buying an additional 49,725 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PACCAR were worth $29,585,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jackson Square Capital LLC boosted its stake in PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after purchasing an additional 90 shares during the last quarter. First Pacific Financial boosted its stake in PACCAR by 11.1% during the 4th quarter. First Pacific Financial now owns 1,058 shares of the company’s stock valued at $116,000 after purchasing an additional 106 shares during the last quarter. Fulton Bank N.A. boosted its stake in PACCAR by 3.2% during the 4th quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock valued at $379,000 after purchasing an additional 107 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after purchasing an additional 108 shares during the last quarter. Finally, Matrix Trust Co boosted its stake in PACCAR by 3.9% during the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $126.18 on Wednesday. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $131.88. The stock’s 50 day moving average price is $121.35 and its 200-day moving average price is $113.12. The company has a market capitalization of $66.40 billion, a PE ratio of 27.98, a PEG ratio of 1.07 and a beta of 1.06. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the business earned $1.66 EPS. The company’s revenue was down 15.1% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc. will post 5.55 EPS for the current year.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 9,258 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $129.70, for a total value of $1,200,762.60. Following the transaction, the chief executive officer owned 258,566 shares in the company, valued at approximately $33,536,010.20. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the completion of the transaction, the executive vice president owned 34,656 shares in the company, valued at approximately $4,433,195.52. The trade was a 69.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 133,105 shares of company stock valued at $16,869,046 in the last quarter. 1.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCAR. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price target on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial lifted their price target on PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus target price of $117.42.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.